business news

Kepwealth

Kepwealth Property Philippines will be the first firm in the country to launch an original government offering (IPO) for 2019, with both the Philippine Stock Exchange (PSE) and the Securities and Exchange Commission (SEC) providing the green light. The property leasing and asset management company will use the KPPI stock symbol. It is planned to sell up to P384.8 million common shares at a cost of up to P5.74 per

OceanaGold

Didipio, Nueva Vizcaya – OceanaGold Philippines, Inc. (OGPI) recently published information on its contributions to the local economy from its years of commercial manufacturing. The firm has provided the region with a total of P39.5 billion in the form of taxes, jobs, agricultural and social development assistance. It has remitted nearly 780-million pesos from a combination of 580-million in local business and 210-million in real estate taxes for Nueva Vizcaya

financial team

The financial team of President Rodrigo Duterte is confident that the sky-high inflation in 2018 will not occur again for the remainder of his term, as the government is ramping up reforms and external forces are becoming favourable. The Development Budget Coordination Committee (DBCC) even lowered the inflation outlook for 2019 to between 2.7% and 3.5% at its 176th session. The previous outlook was 2% to 4%. Due to the

ADB

The Asian Development Bank (ADB) has cut its 2019 growth prediction for the Philippines to 6.2 percent, primarily owing to government underspending at the beginning of the year that pushed first-quarter economic expansion to a four-year low. The Asian Development Outlook Supplement study published Thursday by the multilateral lender based in Manila showed a reduced gross national product (GDP) growth projection for this year from 6.4 percent earlier, even as

metro

At least 44 percent of the new Metro Rail Transit 7 is finished, the transportation department said Wednesday, as representatives led a press trip on a project segment ahead of the State of the Nation Address (SONA) of President Rodrigo Duterte. Twelve out of the 14 stations are expected to be operational by 2022, the Department of Transportation said during a press tour on a part of the project site.

money

France’s finance minister said that the post-war global monetary order required to be reinvented or become increasingly dominated by China. Since its founding at the Bretton Woods Conference in New Hampshire in July 1944, the pillars of that order, the International Monetary Fund and its sister institution the World Bank, have been governed by the United States and Europe. But globalization, the increasing populist backlash against it, and the rise

smartphone

Dito Telecommunity’s anticipated entry as a fresh mobile service provider could have a enormous effect on PLDT Inc., with a worldwide loan rater stating as much as 40 percent of brand profits could be at risk by next year. S&P Global Ratings said the new telecommunications service supplier could shake the mobile network scene and will certainly snatch clients away from the present giants. They expect the third licensed player

Benjamin Diokno

MANILA — Philippine monetary officials have already made up their mind to further cut Bangko Sentral ng Pilipinas’ (BSP) key policy rates.However BSP Governor Benjamin Diokno said they are still waiting for the right time to go ahead with it. This will be BSP’s policy making Monetary Board (MB) fifth rate-setting meet for the year on August 8. This coming July 30 to 31, 2019, the Federal Open Market Committee

PLDT

DIGITAL service provider PLDT Inc. asserted on Wednesday that it led the speed race in both the fixed line and mobile segments in the first half of 2019, quoting information from the Ookla speed test group. Mario G. Tamayo, the company’s SVP, said PLDT extended its lead over its competitor in the fixed line segment, while Smart’s lead in the wireless section versus its rival continued to develop. Citing Ookla’s

petrol station

PETRON Corp. is placing its development plans on the back burner in the Philippines as it is waiting to stabilize worldwide crude oil prices. Earlier, the listed oil refiner said it was spending $1 billion to upgrade its refinery and expand its retail network over the next three years. About $600 million of this expenditure was allocated for its development of the refinery in Limay, Bataan. Petron’s business is getting